PrairieSky Royalty Ltd
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- Andrew M. Phillips
- Full Time Employees
- 71
- Sector
- Miscellaneous
- Industry
- Investment trusts
- Address
- 350 - 7th Avenue SW Calgary AB Canada T2P 3N9
- IPO Date
- May 22, 2014
- Website
- prairiesky.com
- Similar Companies
- Business
- PrairieSky Royalty Ltd. (TSX: PSK) is Canada's largest pure-play royalty company, owning subsurface mineral rights across 18.5 million acres of royalty properties in Western Canada, including 9.8 million acres of fee simple mineral title lands and 8.7 million acres of gross overriding royalty interests in Alberta, Saskatchewan, British Columbia and Manitoba; the company generates royalty production revenue, bonus consideration from leasing arrangements and lease rental income as third parties explore, develop and produce crude oil, natural gas and natural gas liquids without PrairieSky incurring any drilling, operating or abandonment costs. PrairieSky focuses on key resource plays such as Clearwater heavy oil, Mannville Stack heavy oil, Duvernay light oil and shale gas, Viking light oil and emerging Montney and Spirit River liquids-rich gas formations, with approximately 340 lessees including majors, independents and private operators driving activity across over 30 geologic horizons; oil and liquids account for 93% of Q1 2025 royalty production revenue, supported by strong third-party drilling including 200 wells spud in Q1 2025 (97% oil-targeted) and multilateral techniques enhancing productivity in heavy oil plays. Founded in 2013 and headquartered in Calgary, Alberta, PrairieSky went public in 2014 via initial public offering and subsequent acquisitions including Canadian Natural Resources royalty assets, Range Royalty Limited Partnership and Heritage Royalty in December 2021 adding Mannville Stack exposure; recent developments include $57.3 million in producing and non-producing royalty acquisitions in 2024 targeting light and heavy oil in Central Alberta and Saskatchewan, a 4% annual dividend increase to $1.04 per share ($0.26 quarterly) announced post-2024 year-end, $90 million in share repurchases in Q1 2025 under its normal course issuer bid renewed in May 2025 for up to 15.4 million shares, and record 2024 oil royalty production of 13,125 barrels per day (6% growth) with total royalty production of 25,186 BOE per day. The company maintains a strong balance sheet with net debt at $134.9 million as of December 31, 2024 (down 39% year-over-year), 99% royalty operating margins, no maintenance capital requirements and full commodity price upside through its unhedged portfolio, distributing the majority of funds from operations via dividends and buybacks totaling over $2.2 billion to shareholders since IPO.
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